News Formal

JPMorgan Chase is set to report second-quarter earnings – here's what the Street expects

  • 📰 CNBC
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 72%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

JPMorgan Chase will be closely watched for clues on how the coronavirus pandemic is impacting banks' retail and institutional businesses.

Here's what Wall Street expects: Earnings: $1.04 per share, a 63% decline from a year earlier, according to Refinitiv.Trading revenue: Fixed income $5.84 billion, equities $2.07 billionGiulia Marchi | Bloomberg | Getty ImagesHere's what Wall Street expects:Revenue: $30.3 billion, 2.5% higher than a year earlier.Trading revenue: Fixed income $5.84 billion, equities $2.07 billion

The key question investors have is whether the second quarter will represent the nadir for bank profits this year: Big banks are expected to show the largest loan loss provision for any quarter since the financial crisis because of the pandemic, according to analyst Jason Goldberg of Barclays. A bright spot for the industry has been trading, which has benefited from surging volatility and the Federal Reserve's unprecedented actions to prop up credit markets. At JPMorgan, the bank's trading division was headed for a revenue increase of more than 50% compared with the year earlier, co-President Daniel Pinto said in late May.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Goldman Sachs says S&P 500 earnings per share will plunge 60% this quarter, the biggest decline since 2009 | Markets InsiderUS banking giant Goldman Sachs says it expects S&P 500 earnings per share to drop 60% in the second quarter, the biggest decline since 2009 ... Bullish Impeached HiddenTaxes CongressionalNonCompliance ObstructionOfCongress AbuseOfPower GOPRepublicansgaveTrumpAWalk RussianBounty Russianreceipts Tre45on FailedLeadershipOnCOVID19 NoNationwideCOVID19Testing NoContactTracing RemoveGOPFromOffice Top2BottomFailure
Source: BusinessInsider - 🏆 729. / 51 Read more »

European stocks rise on eve of earnings season as traders look past virus spikeEuropean stocks rose on Monday, as optimism surrounding second-quarter earnings offset a disturbing rise in coronavirus cases, including in the key U.S....
Source: MarketWatch - 🏆 3. / 97 Read more »